Back from one holiday and into the next:
It’s also prediction time of the year. Today we have a piece from my email from TrendWatching.com:
2010 is rapidly approaching; we hope the December edition of our Trend Briefing, detailing 10 trends for 2010, will assist you in getting things going (again). Go straight to the Briefing, or quickly scan the 10 trends below:
6. ECO-EASY | To really reach some meaningful sustainability goals in 2010, corporates and governments will have to forcefully make it ‘easy’ for consumers to be more green, by restricting the alternatives. More »
9. PROFILE MYNING | With hundreds of millions of consumers now nurturing some sort of online profile, 2010 will be a good year to help them make the most of it (financially), from intention-based models to digital afterlife services. More »
We’re confident that applying the above to your business will bring you at least one profitable, zeitgeist-compatible innovation in 2010!
From MarketingCharts.com. (Click on the charts to make them BIGGER)
SocNet Users Enhance Relationships, Lose Inhibitions
Online social networking is becoming entrenched in everyday life and is profoundly affecting how US consumers connect with family and friends, shop and interact with retailers and brands, and participate in political and humanitarian issues, according to a recent study from Euro RSCG Worldwide.
The study and resulting white paper, “Social Life and Social Media” (pdf) explore the extent to which Americans have integrated social networking tools into their lives, and also reveal that this integration is causing a simultaneous expansion and narrowing of consumers’ perspectives. One one hand, social networks put the world at an consumers’ fingertips. On the other, social media’s hyperlocal nature enables them to focus, if they so choose, on issues, news and people around them.
Another finding from the study reveals that social networking is also causing a rise in what Euro RSCG calls “cyberdisinhibition” – the increased willingness to behave online in ways that wouldn’t be attempted in person. This phenomenon is making users bolder and driving them to inappropriate behavior.
An examination of internet searches for “social media” over the past several years shows the dramatic increase in interest:
Despite buzz to the contrary, Euro RSCG said the study found that online social networking is enhancing rather than deteriorating, relationships among Americans. Though online has not replaced face-to-face – which remains the gold standard, it is working with it to keep people even more connected than ever.
- More than half of respondents (54%) have met new people through electronic media.
- Consumers are engaging in more of what Euro RSCG calls trialogues – multi-way exchanges of ideas and opinions among consumers and brands.
- Consumers are not only more involved with family and friends, but they also have increased their involvement in political and humanitarian issues.
- 40% agree that social groupings online can be truly social, while only 14% disagree. These figures differ very little across age, gender, ethnic or income groups.
- 28% believe that online social networking enhances their social life offline.
- 58% disagree with the statement that online social networking is for “sad, antisocial types.”
On a darker side, however, the study also found that online interaction through social media leads some people to drop inhibitions, creating antisocial behavior:
- 42.6% of respondents say they feel less inhibited interacting online than face-to-face.
- 20% say they lashed out at companies or products thanks to the anonymity of online interaction.
- 31.5% say that online interaction let them do something they’d been wanting to do.
As a result of the study, Euro RSCG Worldwide suggests five key takeaways:
- Social media are now a vital consideration in any communications strategy in any country where digital media are accessible to citizens and consumers.
- It’s impossible to predict how bits of communication will spread across social media. As most traditional media converge online, communication flows among them, and consumers become messengers.
- The web is worldwide, but its emerging power is hyperlocal. This is the space where what’s virtual (online) meets what’s tangible (offline), with each reinforcing the other.
- Social media enable consumers to be more socially collaborative and to share easily across media types. But users now expect quick responses and clear payoffs. The underlying question is always: What’s in it for me?
- The more interactions happen online with no direct offline contact, the more likely people are to tilt toward extreme behavior. It’s important to blend both online and offline elements.
“Word of mouth has always been the most powerful marketing tool; what social media has done is dramatically increase the scale, velocity and immediacy with which people can influence each other and create the biggest revolution to hit our industry since television,” said David Jones, global CEO of Euro RSCG Worldwide. “One of the interesting findings of the study is that it’s the combination of online and offline experiences that creates the biggest impact.”
About the study: Euro RSCG Worldwide commissioned MicroDialogue to conduct a study in October 2009 to map the trajectory of social life and social media usage in the United States. The study asked 1,228 Americans from all online demographics questions about social media usage in the past, present and projected future; about how people interact with, feel about and use social media; about how face-to-face interactions are affected; and about how engagement with local and global political issues has been affected, among others. The research also included an analysis of thousands of verbatims and other conversations across blogs, Twitter and forums.
Posted: 28 Nov 2009 05:34 AM PST
Most business leaders, if they were being honest, would have to admit they don’t.
RainToday wants to offer some insights from their new report Deal or No Deal: Sales Mistakes that Turn Buyers Away. (you can download it for free here).
The biggest sales mistake? We’ve talked about it before but apparently, you weren’t listening. The #1 mistake…Not listening. Shocker.
But….the real shocker is when you look at the chart that shows both the biggest mistakes AND the “much more likely to buy if they improved” items. Then you begin to truly understand the cost of some of those shortcomings.
One of the mistakes I find most startling is the “did not respond to my requests in a timely manner.” Seriously people — they’re asking to buy and you don’t get back to them? Apparently 30+% of businesses out there actually make this faux pas. A whopping 57% of respondents say that if a business was better about this — they’d be much more likely to buy.
Duh. Shame on any business who makes this sadly common mistake.
So….you’ve realized that you’re making some of these huge sales mistakes. What should you do? How about getting some new sales habitudes? That’s right….a new set of attitudes and habits that will get your sales on the right track.
My friend Jeff Garrison has written an excellent e-book on sales habitudes and is offering it to you for free!
Chapters include …
- A Business Owner’s Biggest Challenge
- The Genesis of Sales Habitudes
- The Sales Habitudes Explained
Download it today….and get yourself on the right sales track!
There you have it…one report to help you learn what you’re doing wrong and the another to help you get back on the straight and narrow! Download them both and then get out there and make some serious sales!
that you don’t want to play.
Posted: 23 Nov 2009 08:02 AM PST
Lots of businesses play the same game with their pricing. They lock on with a prospect and offer up their price. The prospect says something to the effect of….”we really want to buy it, but that’s a little expensive. What can we do about the price?”
The metaphorical headlights are in your eyes. You want the sale. You know you can do the job well. So maybe if you knock a few dollars (…or hundreds, or thousands) off, you can earn their business and prove to them how good you are.
Stop right there.
If you do that once, you’ll be asked to do it every time. By playing chicken and being the one to swerve, here’s what you’ve communicated to the potential buyer:
- My prices aren’t firm — you should always negotiate
- I wasn’t being as fair with you as I could have been…I had some pad in my pricing
- I don’t have enough confidence in my product/service to sell it for full price
- We don’t believe in our own brand — we’re willing to compete on price
Do you really want to communicate any one of those things to your clients and prospects? I doubt it.
Instead, here’s how to handle price objections.
First — price fairly. To them and to you. Be confident that you can over deliver on the price paid and be a genuine value. Don’t price to be a loss leader or get in under the other guys. Charge what you are worth but with a nod of consideration to the market and being competitive.
Second — never apologize for justify your price. You can’t do either without sounding defensive and you have nothing to be defensive about. And once you’ve lowered your price — you will never be able to charge full price again.
Third — acknowledge their concern by helping them stay within budget. Try something like….”I completely understand your budget constraints. If you only have $5,000 to spend, let’s look at our proposal and see what we can modify (# of options, turnaround time, features, add ons, etc.) to get you down to your ceiling.” In other words….take something away or somehow modify your proposal to accommodate their budget.
This is you respecting your original pricing AND respecting their checkbook. In our experience, 90% of the time, you will not lose the sale. They’ll either opt for your modifications at their reduced budget (if their budget constraint are real) or they’ll end up accepting your original proposal (if they were using budget as an excuse to try to get you to reduce your price.)
Fourth — recognize that sometimes this is your brand’s way of helping you recognize that this is not a good customer for you. If you just can’t make the numbers work for them — they aren’t your customer. Be gracious and if you want, even suggest some lower cost alternatives.
Bottom line is — don’t de-value your work by playing chicken with your pricing. If you are good at what you do, about 20-30% of the time — people should push back on your prices a little.
I have a very successful friend whose philosophy is…”I want them to gulp a little when they hire us. We’re an investment, not a commodity. Then it’s our responsibility to make sure they come to believe their investment was a wise one.”
from a RainToday story:
Like most social technology sites in worldwide use today, companies big and small are scrambling to convert Twitter from a simple networking tool to a legitimate way of increasing revenues and decreasing costs. Unfortunately, most of these businesses are learning just enough about Twitter to be dangerous. And annoying. And in some cases, unethical.
Although many of us would love to see each new Twitter account issued with a comprehensive user guide and rulebook, the fact is Twitter users can pretty much do whatever the want. Because of this complete lack of standardization (other than the 140-character limit on tweets) businesses across the globe are using Twitter to annoy potential customers at record rates—faster than they ever could have hoped to annoy them through other, more traditional marketing channels such as direct mail and direct email.
With the above in mind, below are five rules that should NEVER be broken by people trying to use Twitter for business purposes. This article is not written for pyramid schemers, get-rich-quick experts, professional traffic whores, or the kid from Amsterdam trying to find a million Twitter followers before the end of the year. This post is designed to help people who run REAL small companies figure out how to use Twitter—a simple, yet complicated micro blogging technology—to gain a market advantage.
Rule #1: Don’t Bombard Your Followers
Anyone who has been on Twitter for more than a week has at least one follower who sends six tweets in rapid succession multiple times per day or sends one tweet every 20 minutes like clockwork. Here’s a tip: unless you work for a national news organization, your company is NOT important enough to justify this volume of communication. As a small company, sending one relevant piece of news to your followers per day is plenty.
Rule #2: Tweet Only When You Have Something Interesting to Say
If the extent of your tweet is going to be a rehash of an inspirational thought from your new desk calendar, don’t bother. Tweeting famous quotes, personal observations, and headlines from ESPN’s breaking news section are also off limits. Listen to mom on this one: if you don’t have something relevant to say, don’t open your mouth—or in this case, don’t type.
Rule #3: Don’t Follow People Indiscriminately
When it comes to using Twitter for business purposes, the belief that there are no “bad” followers is absolutely spot on. Regardless of what your company does, someone voluntarily electing to hear from you might not always be good, but it is NEVER bad. The reverse, however, is not true. Making a poor decision about whom your company follows on Twitter could cost you a significant amount of fans over time. Do the math: if you run a Twitter feed for your business and choose to follow Al Gore or Rush Limbaugh, you have a 50/50 chance of offending every U.S. visitor to your Twitter site. In the case of selecting Twitter followers, the rules of cocktail party conversation always apply: avoid politics, religion, and polarizing celebrities.
Rule #4: Avoid the Temptation to Re-Report the News
As a blogger who cranks out two or three original articles every week, I understand how difficult it can sometimes be to come up with fresh content. That said, sending your loyal followers a link to CNN’s latest article on the swine flu is a poor excuse for customer contact. If something really big happens in the world, there is one thing you can absolutely count on when it comes to Twitter: within two minutes, everyone will already know.
Rule #5: Stop Trying to Make a Sale Every Time
Understanding all of us have bills to pay, even the best cooks in the world take the chef’s hat off every now and then. If you condition Twitter followers to expect a sales pitch every time they hear from you, your followers will quickly build up immunity to your tweets and simply stop reading them. Between sales and marketing messages, be sure to mix in a good amount of “no strings attached” communications—industry facts, trivia nuggets, and short “thank you” notes for supporting your company.
Eric Rudolf runs THEsmallCOMPANYBLOG in his spare time and is director of marketing for one of the fastest-growing professional development and training companies in the world. Eric can be reached via email at email@example.com.